A critical aspect of the Affordable Care Act is the new employer mandate to offer health insurance. The employer mandate requires businesses with 50 or more full-time and full-time equivalent (FTE) employees to offer health insurance coverage. If tracked incorrectly, your company will become vulnerable to unnecessary audits and costly penalties.
Luckily, BASIC offers employees automated timekeeping to help manage your PPACA status and reporting requirements. Our automated timekeeping system will conveniently track employees’ hours and indicate your “Shared Responsibility” status to ensure compliance with the PPACA employer mandate.
- Quickly determine your employer status (large or small classification)
- Manage and track your employees’ hours (by work week or month) to meet potential IRS requirements
- Easily accessible reports by department, location or job
Plus, BASIC’s integrated timekeeping package offers solutions for all types of businesses. Whether you make use of the traditional badge swipe or your employees’ clock in from their PC, you can enjoy a solution that makes managing your labor more efficient.
Example of Savings:
Preparing 100 time cards will take an estimated 11.67 hours to complete. Therefore, at an average clerical wage of $15.00 per hour, time card preparation would cost $175.05 per pay period.
BASIC’s automated timekeeping technology is a valuable resource, as it is able to eliminate these costs and save you significant amounts of time. Choose BASIC’s Timekeeping services today and reap the benefits of a more efficient time management system
To learn more about the Employer Mandate Tracking, click here.
To request a proposal on BASIC’s Payroll and/or Timekeeping Services, click here.